Bitcoin is The Greatest Customer For Renewable Energy - Part 2
CNN · 2021-05-27 · 2m · View on X →
What I want to talk to you about is what we're seeing in China.
And actually, just the news from Iran as well,
with the challenges they're having with their electricity grid.
How quickly do you think, perhaps, mining, which tends to be,
and we believe, is far dirtier, that goes on in China and places like Iran?
How quickly do you think that shifts out of those nations
and comes to places where it is far more easy, perhaps,
to use more renewable sources of energy to power these computers?
Yeah, I think the industry is maturing.
There is clean, renewable energy in China
through their hydroelectric dams, and it's a great success story.
We're using energy coming off of dams
that otherwise would have been wasted and lost forever to the world.
There is dirty coal in China.
The Chinese have their own environmental goals,
and they're working to clean up all of their emissions.
And so it's not surprising to me that they're driving for clean energy.
In Iran, the story is they're shutting down illegal Bitcoin miners
and they're supporting legal Bitcoin miners.
It's just a regularization or normalization of the industry.
And I think that there's a dynamic
where a lot of hash power will come to the U.S.
and will come to other parts of the world.
The network is fall tolerant, and so it's going to adjust
and clearly as expensive, dirty energy comes offline,
more and more of the hash power switches to clean sustainable energy.
And that's a great thing.
And any jurisdiction that doesn't support mining
will drive the hash power of the jurisdiction to do support mining.
Bitcoin is a solution to anybody that has cheap, renewable energy
but doesn't have a customer for it.
And Bitcoin is the greatest customer for renewable energy in the world
in the history of the world.
Wow, there's definitely a lot of custom.
I agree with you on that point, Michael.
Very quickly, throughout this period of volatility,
did any shareholder, any board member turn around,
you can go, Michael, what have you done to us?
Our shareholders are delighted.
Our stock was trading at $120 a share
before we announced our Bitcoin strategy.
That's a good point.
On a bright day, it's up 4x
over where it was before we went down this path.
Bitcoin is hope for 8 billion people
and it's hope for every company on Earth.
It's a good thing.
It's recycling stranded energy.
It's revitalizing companies
and it's revitalizing investment portfolios.
There's some volatility that comes with it.
But again, volatility gives us vitality.
It's a great technology in order to convert energy into prosperity.
Vitality, a bit of stress and accelerated heartbeats as well at times.
Michael, great to have you with us, Michael Sayler.
The CEO of MicroStrategy, always great to talk to you.
Thank you.